Income and Reporting
Know what income needs to be reported and how to stay compliant with tax regulations.
By Arani1 author7 articles
What Are the Different T4s?The T4 series includes tax slips issued to report various types of income or benefits to the CRA, each specific to certain income types.
Do I Have to Claim My Tips?Yes, tips are taxable income in Canada and must be reported on your tax return, whether received directly, pooled, or included in your paycheck.
Do I have to claim small cash jobs?Yes, all income, including small cash payments for informal work, must be reported to the CRA, regardless of the amount.
Do I have to claim bank interest on a checking/savings account?Yes, bank interest earned on checking or savings accounts is taxable in Canada and must be reported to the CRA, regardless of the amount.
Why Would I Pay EI Premiums on My Self-Employment or Other Income?Employment Insurance (EI) premiums are deducted from employee wages, but self-employed individuals can opt in to access the same benefits.
How to Enter Your Spouse’s Income as a Non-Resident on CloudTaxThis article explains how to correctly enter your spouse’s income on CloudTax if they were a non-resident in 2024, based on whether or not you (the taxpayer) are a newcomer…
How to Report Your Spouse’s Income When You Become a Canadian Resident Mid-YearHow to report your spouse’s net income on a Canadian tax return when you become a resident of Canada partway through the year, including how to split the income between…